DIA is going up in October ...
Updated
I suspect the DIA will start to go up in October. The 4 hour, 5 hour and 6 hour indicators have already indicated a move up. So the 7 hour and daily indicators will follow shortly. If you look at the 7 hour Directional Movement Indicator, you can see that the +DI is just turning and it is looking like a move up.
I just started to use the Heikin-Ashi candlesticks as I find they show more of a definite direction on the chart itself. But I am still learning about this. :-) But you can see on the chart how you can see a definite direction on the chart itself. The Heikin-Ashi candlesticks are fascinating. I am trying to learn more about them.
I use the MacD, DMI and the Stochastic RSI as my indicators, currently.
I am using the fibonacci tool to give me a general idea for a target. But I am not using it correctly.
The DIA has typically been moving between 25 - 30 points per move up so I am anticipating a move to 438. I anticipate it will move up until Oct. 20th - 22nd, then trade sideways before the election. After the election, regardless of who wins we will see the market go up.
We are also in the 5th wave of the Elliot wave, so it's not surprising we will move up.
I realize this is similar to my post about the SPY but I just thought I would try the DIA. I may expand my horizons looking at a different symbol!
Happy Trading Everyone!
I just started to use the Heikin-Ashi candlesticks as I find they show more of a definite direction on the chart itself. But I am still learning about this. :-) But you can see on the chart how you can see a definite direction on the chart itself. The Heikin-Ashi candlesticks are fascinating. I am trying to learn more about them.
I use the MacD, DMI and the Stochastic RSI as my indicators, currently.
I am using the fibonacci tool to give me a general idea for a target. But I am not using it correctly.
The DIA has typically been moving between 25 - 30 points per move up so I am anticipating a move to 438. I anticipate it will move up until Oct. 20th - 22nd, then trade sideways before the election. After the election, regardless of who wins we will see the market go up.
We are also in the 5th wave of the Elliot wave, so it's not surprising we will move up.
I realize this is similar to my post about the SPY but I just thought I would try the DIA. I may expand my horizons looking at a different symbol!
Happy Trading Everyone!
Note
Here is the 4 hour chart:
Followed by the 7 hour chart, which look like it will turn shortly.
Trade closed manually
The market is moving sideways and not going in the direction I anticipated.Note
I am going to reopen this trade. It is going up like I anticipated. It will go up one or two more days next week, then retrace for one day before moving back up until Oct. 20-22nd.Note
The DIA did go down for one day this week on Tuesday, Oct 15th which you can see better on the regular candlestick pattern chart opposed to the Heikin-Ashi candlesticks. The market started to go up today and will continue to go up until Oct 23rd before trading sideways or down prior to the election.Note
Trade closed manually
I have been preoccupied lately so I am closing the trade a little late. The DIA did not go up as high as I thought. It only went up to the 1.618 fib or 431.06
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